ECONOMY

Buying interest continues for blue chips for fifth consecutive session

The Athens Stock Exchange (ASE) continued moving in positive territory for a fifth consecutive session yesterday, although turnover remained at low levels and decliners slightly outnumbered gainers. The general index advanced 16.94 points, or 0.74 percent, to 2,321.19. Buying interest shifted from banks to companies that reported satisfactory first half results, such as the Public Power Corporation and electronics retailer Germanos, which gained 2.78 percent and 4.55 percent respectively. Separately, Germanos announced a $1.5 million investment plan in a chain in Ukraine. Still, banks made further gains led by Emporiki (1.19 percent) and with Alpha advancing 0.92 percent. Thursday’s outperformer, OTE Telecom, remained stable at 10.44 euros. The blue chips FTSE/ASE 20 index ended 0.81 percent higher, mid-caps gained 0.22 percent, while small-caps lost 0.47 percent. Holdings led sectoral indices with gains of 1.69 percent, followed by non-metallic minerals & cement with 0.98 percent. Among individual shares, gainers were led by Domus (7.32 percent) and Interfish (5.98 percent). The biggest losers were Empedos (-10.26 percent) and Texapret (-9.16 percent). Turnover reached 86.21 million euros. Analysts take the view the bourse cannot make any significant gains as long as daily turnover remains below 100 million euros. Decliners outnumbered advancers 138 to 115, while 97 share prices remained unchanged.